Increasing Consumer Access to Advice

The ABI commissioned research to look at the cost of full advice and how consumers prefer to access investment products.

The research found that as full advice costs £670 in total, it is beyond the reach of about two-thirds of the UK adult population.

The ABI has therefore developed proposals for a new financial advice process which is automated and driven by IT. This is designed to serve consumers who cannot afford, or do not require, the level of service offered by full advice.